Find a Soham Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Soham? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Soham home move at risk of delay or failure.

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Recently asked questions about conveyancing in Soham

I am expecting a mortgage with Nat West. My intention is to enlist the help of a Licensed Conveyancer in Soham. Does the Nat West Conveyancing panel exclude conveyancers regulated by the CLC?

The Nat West conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.

I am under pressure from the mortgagee in possession of a property in Soham to exchange within four weeks. What can I do to speed up matters?

First, If you are under time constraints for your conveyancing it is highly recommended that your lawyer is familiar with the area as they will make use of local connections and insight. It is possible that they could have handled previousproperties in the same neighbourhood. You would be best advised to use a Soham conveyancing firm. In addition, be sure that the conveyancing firm is on the member panel. It is claimed that nearly one in five of Soham conveyancing transactions are suspended or derailed after finding out that a purchaser’s solicitor was not on their mortgage lender’s member panel. In many cases this discovery resulted in the transaction being held up by almost three weeks. It is said that this issue impacts approximately 100,000 home sales annually. Many Soham conveyancing firms can not act for certain mortgage companies so do check as early as possible.

How does conveyancing in Soham differ for newly converted properties?

Most buyers of new build premises in Soham come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Soham usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Soham or who has acted in the same development.

I decided to have a survey carried out on a house in Soham ahead of appointing solicitors. I have been informed that there is a flying freehold element to the house. The surveyor has said that some banks may refuse to grant a mortgage on a flying freehold home.

It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Soham. Conveyancing will be smoother if you use a solicitor in Soham especially if they are acquainted with such properties in Soham.

If all goes to plan we aim to complete the sale of our £475,000 flat in Soham in just under a week. The management company has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Soham?

Soham conveyancing on leasehold apartments ordinarily necessitates fees being raised by freeholders :

    Answering pre-exchange questions Where consent is required before sale in Soham Supplying insurance information Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale
Your solicitor will have no control over the level of the charges for this information but the average costs for the information for Soham leasehold property is £350. For Soham conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to provide answers.

Soham Conveyancing for Leasehold Flats - A selection of Queries Prior to buying

    Best to be warned if redecorating or some other significant cost is anticipated to be shared between the tenants and will materially increase the the service charges or necessitate a specific payment. It would be prudent to find out if the the lease contains any adverse restrictions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Soham. If you love the flatin Soham yet your dog can’t make the move with you then you will be presented with a difficult decision. Its a good idea to discover as much as possible about the managing agents as they can either make living at the property much easier or problematic. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to practical matters such as the cleanliness of the common parts. Enquire of prospective neighbours what they think of them. On a final note, find out the dates that the maintenance fees are due to the relevant party and precisely what you get for your money.

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Red Lodge

Find out more about how flying freehold can affect your the value of a property.